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Poor queues from the US and Asia - Indian markets open weak

September 5th, 2008

Friday, September 05, 2008 10:39:19 AM IST

The Indian stock markets opened the day in the red following poor queues from the US and the Asian markets. The Nifty is at 4354.55 down 2.1% while the Sensex is down at 14541.4 having lost 357.7 points or 2.4%

Yesterday listing stocks are now having sharp cuts. On the other hand, heavy weight stocks too are seeing some selling pressure today.

The CNX IT is down 2.41% while the Bank Nifty is down 2.55%. CNX 100 is down 2.09% and CNX 500 is down 1.85%. Infosys, Tata Communications, HDFC, Maruti, Sterlite, Wirpo, Reliance (all down over 3%), HDFC Bank, Unitech, SAIL (all down over 2%) are seeing selling pressure. BPCL is trading at 334.6 levels and is up 1.29%.

All sectoral indices on the BSE are in the red. The list is topped by Bankex, IT, Realty, Metal and Oil & Gas.

1 U.S. dollar = 44.3203 Indian Rupees
1 U.S. dollar = 106.8604 Japanese Yens
1 U.S. dollar = 0.6985 Euros
1 Ounce Gold = $797.30
1 Barrel Crude Oil = $107.86

Entry Filed under: Equity Markets, Opening trade